Third Party Risk Management 2022
Third-party risk management offers some unprecedented challenges in 2022. Here are some of our predictions for the new year.
Hedge Funds Need to Play it Safe
Hedge fund vendor risk management is often neglected–but it’s an essential part of business. Here’s how you can integrate risk management.
Managing That Risk: Hedge Fund Level
Hedge funds are skilled at managing investor risk. But there's still catching up to do when it comes to hedge fund vendor risk management.
Automating Cyber Risk Assessments for Top-Notch Cybersecurity
Protecting against the increasing risk of cyber threats is a significant undertaking for any organization. Insufficient security controls can have serious detrimental impacts, from downtime spent recovering from a breach, to the damage done to your organization’s reputation if your clients’ data is compromised. In 2020, McAfee reported that cyber attacks cost businesses around the world a total of more than $1 trillion. With so much at stake, it is critical that your organiza
Healthcare in 2022: More COVID & Cybersecurity Risk
2022 brings unprecedented risks, but you can handle it with proper third-party risk management. Here’s a look at what the new year holds.
Simplifying Third-Party Risk Management with the SIG Questionnaire
In highly regulated industries, protecting critical data and security is of the utmost importance. But, as organizations grow, it becomes increasingly difficult to manage heavy workloads without the assistance of third-party vendors. Utilizing third-party vendors offers much needed specialization and often cuts costs by reducing the need to train and equip members of your team to manage new skills. However, independently operating third-party vendors have their own security m
Importance of Risk Assessment in Third-Party Risk Management Strategy
In the modern business world, especially in regulated industries, companies from healthcare to finance are required to manage increasingly heavy workloads and significant amounts of data. For many organizations, this requires reliance on the help of third-party vendors to keep costs low and operations running efficiently. The sharing of sensitive data that comes with working relationships like these demands a comprehensive risk management strategy. Risk assessments are a corn
3 Ways a Business Continuity and Disaster Recovery Plan Can Protect Your Business
Every year, thousands of companies suffer financial, legal, and reputation damages due to crises including natural disasters, ransomware attacks, or a global pandemic. By nature, disasters like these are impossible to foresee, which makes having a plan in place to respond and recover of utmost importance. Recent data has shown that 96% of companies with a business continuity and disaster recovery (BC/DR) plan in place make a full recovery after suffering a data breach. On the
3 Steps to Optimize AITEC DDQ for Hedge Funds and Asset Management Firms
Today's hedge funds and asset management firms are operating in a complex and high-stakes industry environment. Unless your firm has all the needed technology, staff, and skills to get everything done internally, you likely rely on third-party vendors for necessary resources and manpower. While your firm may hold to a high standard of cybersecurity and compliance, the vendors you employ may not. Your vendors have access to sensitive data, and their carelessness becomes your l
Applying the NIST Cybersecurity Framework for Effective Third-Party Risk Management
Running a business in the internet age means taking on the critical task of protecting sensitive data from cybersecurity attacks. Last year, data breaches exceeded the total number of 2020 events by September, setting a new record for breaches occurring in a single year (Identity Theft Resource Center). With this marked increase in cybersecurity threats, businesses must take proactive steps to mitigate risks and protect their data. In an effort to provide organizations with t